#News

Akeredolu signs Ondo revenue administration bill into law

By Chris Chimezie
|
Efforts of the Ondo State Government to  improve its revenue profile has received a boost, as the state Governor, Arakunrin Oluwarotimi Akeredolu (SAN) has assented to the State Revenue Administration Law.

According to a statement signed by the State Commissioner for Information and Orientation, Yemi Olowolabi, the new law will be cited as the Ondo State Revenue Administration Law, 2018.

It added that the law makes provision for the administration and collection of revenue due to the state and local government councils to establish the relevant administrative structures and for matters and purposes connected thereto.

He explained that the law is in compliance with Section 87 of the Personal Income Tax Act 2011 (as amended).

According to Olowolabi, “As as result of the governor’s assent, Ondo State is now in full compliance with the Federal Tax Laws, the various Joint Tax Board resolutions and Nigeria.

“Governors forum decision requesting that the various States Board of Internal Revenue be given financial autonomy to drive the Internally Generated Revenue of the states.”

“The Ondo State Administration law provides full financial and administrative autonomy to the State Internal Revenue Service.

“The State Internal Revenue Service becomes the sole authority responsible for the collection and reporting of Internally Generated Revenue in the State”,he said.

He further explained that the law states clearly the relationship between the state IRS, MDAs and Local Government Authorities in the State, adding that the Ondo State Administration law provides full financial and Administrative Autonomy to the State Internal Revenue Service.

Related News  ODSCIA distributes Dangote rice palliatives to Muslim faithfuls

“lt makes for the professionalisation of the State Board of Internal Revenue Service, with a fixed term of four years for the Executive Chairman renewable once, subject to reappointment by the governor and approval of the state House of Assembly.

“The State House of Assembly has ratified the appointment of the incumbent Executive Chairman with the passage of the law.

“The governor also approved the release of funds for the construction of a new and modern Revenue House complex to accommodate the State Internal Revenue Service,” the commissioner said.

It will be recalled that Governor Akeredolu visited the proposed site of the revenue to inspect the ongoing work.

He also approved the recruitment of new members of staff for the State Internal Revenue Service.

Share
Akeredolu signs Ondo revenue administration bill into law

APC wins two House of Reps seats

Akeredolu signs Ondo revenue administration bill into law

Ilaje/Lekki Road Project

Leave a comment

Your email address will not be published. Required fields are marked *